Harsimrat Kaur Badal to meet various stakeholders

The aim is to identify and tackle as many issues as possible before the World Food 2017 that the ministry is scheduled to organise in March, said officials.Madhvi Sally | ET Bureau | October 12, 2016, 08:17 IST

The aggressive move to showcase India’s food retail sector is on account of a lack of interest shown by international companies to set up shop in India despite the country allowing 100% FDI in the segment.NEW DELHI: Minister for Food ProcessingHarsimrat Kaur Badal will meet various stakeholders on Thursday as part of efforts to identify issues that create roadblocks to business in the sector.

The aim is to identify and tackle as many issues as possible before the World Food 2017 that the ministry is scheduled to organise in March, said officials.

The meeting is happening ahead of Badal’s trip to attend the global food festival, SIAL, in Paris during October 16-20.

"GST and FDI will be the two main issues which will be discussed," said a food processor based out of Delhi who said representatives from various ministries, departments and the Niti Aayog would participate in the meeting. Officials from Nabard, the national food regulator and industry associations like Ficci, CII, Assocham, PHDCCI and the All India Food Processor Association are also expected to attend.

In September, the minister had travelled to the UK where she made a sales pitch for foreign investment in food retail. Post that, she visited Italy to seek investments and collaborations in food retail.

The aggressive move to showcase India’s food retail sector is on account of a lack of interest shown by international companies to set up shop in India despite the country allowing 100% FDI in the segment.

While the government recently allowed 100% foreign investment in food retailing, general merchandise such as soaps and shampoos can’t be sold under such retail outlets set up with foreign money. This is one of the main points of complaint against the policy, with some global players saying that food alone would not make it worthwhile for them to make huge investments.

According to the ministry, the value of processed food exports was $29.37 billion during 2015-16, equivalent to 11.21% of India’s total shipments.

Sachin Bansal, Binny Bansal, sales director Hari, accounts managers Sumit Anand and Sharauque among other employees have been named in the FIR registered on the basis of a complaint lodged by Naveen Kumar, owner of Indiranagar-based C-Store Company.